The Benevolent Fund of the Institution of Mechanical
Engineers
Annual Report and Accounts For the year to 31 Oecember 2023
Annual Report and Accounts For
the year to 31 December 2023
Company Registered in England No. 130981
Registered Charity No.. 209465
Page l of 33

port ol the Trustees
Independ•nt Audltor'$ R¢port to the
Members ol the 8enevolent Fund of the
In$titutlon of Mechanlcal Englneers
statement of Flnandal Actlvltles
8•l•nee Sheet
2-18
19-22
23
24
statement of C•sh Plo
Ac¢ountlng Polkles
Notes to the accounts
25
26-28
29-33
Pffj• 2of31

IMTROOUMON
The Trustees are pl•a5ed to 5ubrnlt th•lr annu•l report whlth In￿rpOrateS the Dlfectorfs Report
•nd •ccounts l(¥r the y￿r ended 31 December 2023. In prepartng thls report th• TnJ$t•es ha¥e
Corn￿[¢d wlth the Ch•fltl•s Act 2011. the Companles Art 2006. Accountln9 and R•por￿n4 by
Chadtle•: Statement of Recomm•nd¢d PrartlcE jppllcable to ch•￿t￿S prèparfn9 thelr
In accordanu wlth th• Rnanclal A¢portln9 Standard •ppllulAe In UK and Ropubllc of If•land
(FRS102). •nd th• comp•nVs Artldls of *A￿CIatIon gov•rnlng documont.
REFIA£Nce AND ADMINiSTRAnve D￿AlL$
The Benevolent Fund of The Instltutlon of M•th)nlul Ertglneers (•1￿ known •1. •nd now
operatlng under, the workJn9 titl¢ of 'SLfppc*rt Network'> was found•d In 1913 •nd Is re9lstered
wllh the Ch•rlty Cornmlsslon ft>r En9land and Wal•¥ ￿ th•rfty number 209465. Support
14etworlt Is also a Company Llmlt•d by GuJr•ntee' •nd Is re9lst•r•d vdth Companl•s House ag
mp•ny number 130981. The Trujteu, Offlc•f• •nd profeMl•n•l •d￿￿1* of the th•rfty •fe
Ilrt•d on gago 17 01 th1¥ r•p•rt. Supwrt Netw¢rk oporates throu9hout the Unlted Klngdom 4ftd
Intern•ttonally, wher•¥er there •r• m•mb•rs lor lorrner mernbers) ol the In•tltutlon ol
Me<h•nlc•l englneers {IMethE). Allhouph d05• tl•s •xl$t between Support N•twork 4nd th•
IM¢¢he, It ihould be ntsted th•t rhey are separate and dlstlnrt reglrternd th•rltle• •nd
comp4nl•%. wlth dlfter*nt ¢bj¢¢tb¥￿, funds •nd rnanagement stnJcture*
SY*UCTUAt, GOV2RIIANCE Af40 14A14AGeMtNT OF THe CMARITY
Support Network Is a eh•rftabl• ¢omyny Ilmlt•d by gu•f•Dt*•, ••t•bllih•d und•r
M•morandum of A8￿Cl•tIon, now r•¥ls•d •s Artldes of Al￿¢11t1•n (￿n￿ary 2020) wllch s
out the obJeLt* •nd pow•Y% of th• ch•rlt•bl• eomp•ny •rKt •119OVtrn•nce prov1￿0￿ rEla￿n0 to
the um•. A copy of the vjrrent vernlon ol th• Artld•s ol Assocl•tlon •rn fll•d wlth both th•
Ch•dty Commlmlon l¢r Engl•nd •nd W•lM Ind •t Comp•nles House. The Dlrertor4 of th•
comp•ny •re also C￿rtty TNst¢os for purpose* •1 ch•rlty thw. The •o¥ernlng body gf
Support Netww% Is the Trurtee ao•rd, •tKI the Truitvi we Jolntly reipon•lbl¢ for It*
•ov•rnanc•.
Support Network's Cha￿t￿ble obJ•rtbves are the reikf Ind prnv¢ntlon of po¥erty. In DK•fflb•r
20191 P•rmI￿10n was glv•n to exp•nd the e¥l•tlng th•rlt•bl¢ obJ•ctlv•s to Indyd• •s%lst•nc•
to both Indl¥ldu•ls •nd •ry•nl••tlons, th•M beln9:
> M•mb•rn (or forni•r m•mb•rn) ol th• Instltutlon ol He¢￿nICal Engln•ern (IMechE).
> The p•rtnern, ￿￿1 partners, wlilows, wldowers, ehlldr•n (Sncludlng adult chlldf•n).
r¢latl¥•s and other d•p•nd•nts ol such rnornb•r• or fi)rni•r mernb*rs {whtther suth
members or lornier members a￿ all¥e or déad •1 th• tlme such provlslon Is sought>.
To Yelle￿. or ass&t In the r¢ll•f of. PO*thf or fin•ndal hoydshlp throw91￿￿t the wortd, In
p•rttwl•r but wlthuut Ilmlt•Uon to the provl•lon of fvndln9 lor devdopment projects.
rtioJl•rty pmJ•rt• or p•rts of proJ•¢ts ￿1h • strong eroJln••rtThJ w t•thnlcal component.
To ￿￿n(* 4¢Iu<*iM. In partlcular, thrngh P￿dIng fvndkng In support ol prnJe¢ls whith
de¥•lop <ap•blllty kn Klenee. t•chnolooyi •nglneerfng and nMthematl¢s.
Support Network has four fv114lffle •qul¥alent *•ff, who are b•J•d In the LondM Offi￿ though
lar9ely work from home. It relbes on • large network ol volsjnteers. who themselves are mostly
mernbers ol the IMe¢hE and thu5 also lorm part of the *11glble 'eornmunlty of uters of th•
rganlsatlon's serykes. Volunteers •sslst wlth c4sewDrk through m•klng ho•n¢ vlslts armllor
t•l•phon• or onllnl ulls for ftnand41 vetlflutlon or antl-lonellnoss purpos•s. our
lfiternatlonal vo￿nteerS act as In-country representatlves to pro¥lde • wkler context to member
•ppllcatEons. V•lunteer* are therèby In¥ol¥ed wlth the majodty ot the wettare Interventlons 4n
¢a*ework undertaken by the or9anls•tlon. They arn aecordlngly a rn)Irthtsy 01 Support

Network's actiyltles •nd 4 prtrKlpal polnt of contstt wRh new appllc4nts and •xlstlng
benefldarles. kn presently constituted, Support Network could not operate wlthout them. Purely
In terrns of houf5 01 casework. Support Network requlre •t le•st two extra ful￿tIMe st•ff
If thern n¢ volunte¢r8.
Trurtees arn responslt¥le lor setting t￿ ory•nlsaii¢>n str•togy and lor th•t thls Is
Impl•m•nted by the Chkf Exe¢utl¥e. To asslst wlth thls work th¢r¢ •re three svb-e4mmltte¢s
whlch arn acawnt•bte to the m41n Trustee Board. There •r• •ls• •ddltlonal rnfflrt¢ grnnt
declslon m4Wng panels, and memb•rs of ¢•mrnitt¢e and panel are Ilsted on w9• 17. A
dl•gr•m of th• structure of the orgafflls•llon •t May 2024 Is shown bek+w."
eEO& th
REPIOTIDEaSIIJN141XIMOPAMELS
&DEtEI3AYEDUMIIS
PERSON14ELCQMXITTEE
The Trust•* ￿0￿$. when cornpl•te, conslsts of at le•st dght •nd nrt more than thlrteen
lndfv1du￿s. The current Board comswlse5 11 elert•d •nd ￿￿pted fflembets. None of the
Supp•rt Network Truste•s •Ye •lw IMethE TNsteu.
The Trustees serye for • Ilx•d p•rlod of three years, •fter whlth tlm• they are ellplble to stsnd
to seThe for • further thrne years, •fter whlth ttr*y must retlre for at least one ye•r. before
beirt9 ellglble to ser¥e on the b￿rd 49aln. Th15 15 unless they trK•ld the t)fflce of Chalr or Deputy
Chalr at the Yme that thelr retlrement would lall to be ellectlye. at whlth Wnt they m•y seThe
for an addlttonal corFse¢vtJve 1-2 year5 before belng time barred. Thls Is In order to fadlltate
successlon pl•nnlTrg. C*ndld•tes to be coftsldèred for electlon to the Board are Invlted to submlt
sratements of appllcatlon 49•lnst the Person Spedfl¢•tlon requlrtd that year. and to attend •n
Intervlew elther wlth the Chalr aThl è Deputy Chalr, or othen¥lse the fvll Appdntments Pan¢1
(usually cOMprf￿n9 the Chalr, Deputy Chalr and one or two other Trvstees, whu are ￿UallY
also members of the Personnel Commlttee). New tnjstees are derted by the full TNstee 8oard.
and usually take offlce w￿￿ effert irom the d•te of the July Trustee 8oard meetlng. whlch is
also v5ually the flr5t Trustee 8oard meetlrffj t*￿ thy attend unless they have been ¢o*pted
at another Stsge of the calend•r year.
Pry•4fjfJJ

The eletted Trustees are often alrtady famlllar wlth efther.. l) the purpose and wactkal work
of Support Nthork. (os they have 1or9ely b¢en r¢crult¢d from those ¥Yho hove demonstr•ted
• commltment to th* alms •hd eth05 of the charlty by volunt8erlng to att •$ 'Vlsi¢ors')- or 2)
the work vf th IMe¢hE. •$ c•ndld*tes ire usu•lly IMethE members.. und¢rtak• ¥oluntur
rtlvltl•s for th• IMechE; or arn employed In • r¢1¢ whlch brfngs addluonal expertlse to the
Support Network bo•rd e.g, communlc•tloM •xp•rl•nc•.
All Trustees •re rnCTulted In •c¢ord•nce wlth addl￿ the fequlrnd skllls •nd exPe￿In£* to th•
board. on the basls of • skllls •udlt of •ll Trnstees, and *ssocloted ￿ccess1on plannln9 exerclR.
Requlr•m¢nts In reipect ol the Code Of Governance. espedally those In rdpert of DIver￿ty and
indusknn am eonsldered when pl•nnlng for •nd und•rtaklng the recrultment Of n•w TNrtMs.
[￿￿1￿0 th•lr IndLKilon process. oKh n•w Trust•e 18 provld•d wlth access to •ll the necessary
reference documents. pdlde$ 4rtd proceilures for thern to pl•y Jn •ff•rtlve role on tht TNitee
Bo•rtl. Inclvdlng coles ol the go¥emln9 tlocumenr, Ch•rtry Cornmlsjlon publlcatlonl. t•rrn• of
rnfqrenct for commltt••$. rlsk reg13ter, l•t•$t lull $t•tutory •ccount8. and th• prevlous year of
Truste• ￿rd rnlnutes and fln•nclal st•t•mentL Pollri do4xment$ 4r• r*vlewod •nd r•vl¥ffI ••
•pproprlate. wlth the lateit edltlons ported on On Intern•1 Extr•n•¢ vla • p•ssword
proteeted 4re• ¢1 the governance settlon wSthln the Support Netvlwk websltq P•g•s. New
Trust¢•s •r• Invlt•d to m••t wlth th Chlef Ex¢cutlve lelther onllne or at tho comp•ny'
r•glsternd offlc• In London). In order to f•mlll•rf5• th•ms•l¥•s wlth th• ch4rlty. to und•rt•k• to
m¢¢t the oth•r mernb•rs of t￿ Atsff t••m, •nd t¥ t•lk through the rol* •fvd r•4ulr•ments In
mor• depth. They are •lio rnqulred to •tt•nd •xt•rnal tralnln9 *•silonS* provld¢d by specl•llst$
In 9overn•nce, t¢ Includ• th• rol•, dutles and respon￿bIlItIeS of • Trnrt••: flnanc• and
Inv•stm•nt skllls lor Trustees; •ntl oth*r goverMnc• r•lat•d tralnlng as •ppllcJble.
Th• IM•che Presldent and IMechE CNel Ex•cutlv• •r• Pbtrons ol th• ch•rfty. At the d•t• ¢1 th1•
rEPOrt. Ihe pomlble thange In Royal P•tron 19 bell￿ detemlned.
fjp•nt Commltttt..
The Gr•nt Commltt•• m•ets al requlred. u%u•lly twlce • ye•r, wlth the purpo￿5 Of.. d•ddln9
4w4rdsllo•ns In premnted <•ses wlthln th* #rant maklng Ir•m•work of polldes and guldellnes
49feed by the Trustee 8o•rd; mwltorlng complex cases.. oversedn9 c•ses deterrnln4d by th•
•taff and dlscusjlno amendrn•nts to 9rènt maklng polld•s and $trat•9y. It also c¢nsld4rs the
wanls 91￿￿ vla *xher dedslon maklng routes. Ind t11scuss•s n•w pro¥lder opportunltl•s, wlth
vlew to maklng recornmend•tk4ns to tht Trustee Board re9•rdln9 emergln9 patterns of need
•nd apprOp￿￿te re6pons¢s to th• s•m•. On ocuslons. potenfl•l lound•tlon gr•nt redpl•nts
ml9ht alio be consld•r•d In prlncSple. b•lorn b•ln9 conslderyd In full by the TNit•e Bo•rd. Th•
Grant Commlttee Is usu•lly chalrtd by one of the Deputy Chalrs. •nd Indudes up to lour oth•r
Tw5t4es. ¢0g•th•r wlth mem￿r$ of staff. N•W volunt••rs •r• In¥lt*d to •ttend •s p•rt of thelr
Inductlon trDlnlng. Other ¥olunte•r ¥lsltors rn•y Jlio be asked to attend 11 one or more of thelr
uses •rt b¢lng ronsldefed and e5peclally If those are thvusht to be qulte complex, reoulrln9
•ddltlon•l dlscusslon In per59n to •sslst wlth the declslon-makln9 pro¢¢ss. All new Tfustees are
•sk•d to attend J Gr•nt Cummlttw m••tlng durlng thelr flrst ye•r Ol appolntmtnt as part ol
th•lr lThlurtlon or as soon as posjlble ther•after. Trust••i who do not undertake Jppllc•tlon
reloted ¥I￿ts •re especlally encouraged to 4liend Grnnt Commlttee meetlngs In order to
understand part ol the corn ser¥lce proVI￿on and the related 11￿(5 and lor Jtrntegle element$
ol the same.
Pw5a153

Fln•n¢• C•rnmltt••.'
The Fln•rKe C¢mmbttee meets as fequlred to corbslder spednc Jreas ol flnante. On •n annual
b•s15. ￿5￿41Y In Febru•ry, It reeelves Investment rn•nag•r pres*nt•tlon3 In r•sp•tt •1 th•
perforrn•nce of lunds durlny th• precedln9 year. The oryanlsatlon undertakes a full revlew ol
the Inve•tmtnt portlolto on a Ilv• y•orfy basls. The Fln•nce Commlttee 15 CQrnPrised of up to
Ilve Trustees, Indudlng the Tre•surur. Chalr, a Dopjty Chalr and twm other Trustees. All matters
Str•ieglc fIn•￿¢, Investment portfolto. fundr•lsln9 targets and fin•ncl•l procedures b•
conjldered by thls ¢ommitt•e, whlch then rnports to the TnJstee 80•ryS. Whllst the commltte*
h•s a stated m*mb*rnhlp for on9oln9 development work, •n Qpon Invlt•tlon Is extend•d to •ll
Trust••S In respect of •ttendlng the bnnu•l Inv•gtrn•nt rn•na9•r prtsentatlons. Thls lull
Invlt•tlon Is J150 extended to Jny Fln)ne• Commltte• meetln9 whlch Is •ttentled by the audltor
•.g. to present th• annual audlt findln9$ and to recelv• puestlons lrnrn Tru$te•$ •$ p•rt of th•
St•tutory accounts •greEment Jnd s1gnln9 proctss. An opportunlty Ss provlded at that meeting
fgr th• •udltor •nd Trustees to meet wlthout staff belng present. All n•w Trustee• •r• •*k•d to
4ttend the flr# Fln•nco Commltt¢e •ft•r th•lr ippolntmlnt ￿ p•rt of tholr Indvrtlon,
P•rsonn•l C•mmlttM.'
Th• Personnet Committ•e m••ts as r•qulred to cOn￿der speclllc pernOnTh￿ rel•ted l¥iu•s, and
•t least annuolly {usu•lly In O¢eember) wh•n It conslders the •ppralsols and pertorrn•nce of
the st4ff te•m dvrln9 the past ye•r. thdr obJectlv•* for the comlng ye•r. •nd sets thebr
Indlvldu•l remuner•tlon. Th• Trustee Board delegates m•rters of staff •dmlnlstrJtlon. pay
Iwards, b•n•fits and or9•nlMtlon to th¢ P•r¥onn•l Commbtt•e. Issue*, pollcl•s andlor
prv¢edurei rel•tlng to volunt••rs •r• also ¢onsldered here In the first Inst•nce. Th5s commltte•
Is comprlmd of lour Trust••s. where passlble Includln9 th• Ch•lr ond • O¢puly Ch•lr of th•
TNstee 8o•rd. C•re Is taken to •nsur* th•t m•mb•rn ol th• P•rsonnel Commlttee do not
eornpl•t•ly th•n9• betw••n meetlngs to ensur• ￿ntInUIty ol d•clslon m•kln9. Th• work of the
¢ommltte• Is often progr•swd by em411. on a subject spedfk b•sls. In b*tween rnt•tln9S.
Polld•s •nd procedures In relatlon to sof•guardlng1 and compll•n¢e wlth th• G•n*rnl D•t•
Proteaion Regulatl¢n 20161679 IGDPR) Is wlthln the rtmbt ol the Pewsonn•l Committee. The
Appolntm•nts Panel. ¥vhlch Intervlews potentl•l ￿ndIdateS to bt eonild•r¢tl for electlon to the
TN•tee 8o•rd ll • sub-set of the Personnel Committee. Slmll•rly. memb•rs ol the P•r8onn•l
Cprnmltt•e vw•lly cofflpr1￿ th• panel for •ny *mpk+ye• rwultrn•nt.
A•moe• •r•nt D•d8l•n M•*lft• P•Ml• •n41 dlr•rt *•rvle• r•lwr•l4.'
ReIerr￿S ¢0 the employm¢nt ¢o•thlng Mrvl¢e. the New A?￿l¢￿tIOn P•nel, Studeni & Apprentk•
Pat￿. Offlc• D•dstons process Ind declsloni made by th• Chalr. Chl•f Executlv• or Op•r•tlon•
Manaoer, •r• •ll addbtlon•l declslons m•klrvJ rout•$ whlch •nall¢ grant aw•nl dedslons to be
t•ken wlth¢wt •ppllc•nts ¢xperlencln9 undu• d•l•y. All dedslons art m•t1e wlthln Ilmlti of type
and flnand•l •mount that h•v• b•*n prevlously •greetl •nd lelvgJted by th• Trustee aoèrd. All
wards determlned by the remot• 9rnnt d•e151on rniklng panels ire reported to rhe followlng
Grant Commlttee m•¢l+ng tor ￿rI11(atIOn.
Durln9 wr Inltr•l Implement•tlon ol th• found•tlon fvndln9 progr•mme, moit declslonA r¢l•tlng
to whlch orp4nlsatknns to èe •warded lound•tlon fundln9. at what l*¥eVduratlon etL, have
elther been m•de by the full Tru>tee Board aftdlor fdlowln9 • presentatlon by the Jppllcant
Qryanlsatlon to whlch all Trustees have been Invlted. In •d(ritlon, d*￿gnIted Trust••$ andlor
wor￿n9 groups h•¥e been used to Ilnk to speclflc projects to belp wlth pro9ressk¥n and
man•gem•nt. A strateglc r•¥l•w Of thls are• occurred In 2023 and 1% dlscussed fvrth•r l•ter In
thls report.
AZSK MANAGeMEt4T
The Tru$i*•$ have Id•ntlfi•d the m•Jor slrJt•9lc rlsks to whlth Support Networ* Is exposed,

nd have consldered controls and actlons to mltlgate them. The TNstee5 also take opproprlate
step5 to moderate and manage the oper•tlonal rl$ks to whlth volunt¢ery antl staff of Support
14etwork Jre exposed. The rlsk reg15ter 1$ ￿t￿e¥l¢d In full on an annual basls, usually at the
October Trv5tee Board me¢tlnp. compet￿Ce based tralnln9 for Trustees & volunteer5,
•mploy•rfs Ind¢mnlty Insurnnce and monltoflnq of new le914atlve requlrem¢nts are all e￿mpleS
of steps that •re muunely undert•ken. Authorlty for the day to day m•n•gement of rlsk Is
dele9ated by the Trustee Board to the Chb¢i eX•wt￿*. In atJdlt*>n, the Chlef Executl¥e, who Is
also the Cornpany Secretary, vndertakes requl•r revle4Ys of 9owernanee rekittd rtsks, to
complement those revl•wed by the SUb￿mmIttee5.
Wort oft the f•rn* •nd pr•¥Ent￿Ofi of the rtsk reglster wrnmenced durlrw 2022 wlth
•greement to fflake the most slgnfficaTrt more prtyTrlnent. es5entl•lly 'llftlng' them bwav
from other l•r9ely m￿l9•t¢d rlsks. and to also shov¥ the Illfference between pre p•st
mftfgatlon rfsk vafves. It has been agreed to Ivrther develop the forrn•t of the rtsk re9lster
durlng 2024 to make thls even more Irtrmatlve. In the Intertm, the Truste•s h•¥e Identlfied
•pedftc l¢ey rlskl to the th•rlty •￿1 the aLtual steps raken ro mStSgate t*￿se rlsks. The rfsk
value Is calculated ay: Imp¥t x Probabllbty. where low •nd S - Ngh. Save for rlsk shown
below, Ill (ther rtsks have a ¥•lue of 3 Dr Itss:
AIPI RISK:
rfsk value 4 (2x2). Trustees feel that wh115t the ￿PansIon of our Kllvllles Into prnvhllrvj
thjndlng to or9anl%attOTrS thrnugh our fwndb￿On fundlno wrtleome to Incrt•se our ImpaLt and
publc bwwnt, It alw th¢ ?x9anlsa¥on Into new ar￿$ ot operatitYJ. with assod•ted
uncertalTrlles. There Is muth to ltrJm IA thSs •rea - provk11ng grnrts tts pvojects Is very
dlfferent to •w•rdlng 9rnnts to 1nd1vld￿Is. Issues suth •$ mum-year •greements: he•lth and ￿fety
ol projects; thlrd party engagement; pace of project progrtss have •1 been ￿pects that have been
¢onsthred by TnJ#ees durin9 2023. We •I￿ldp•te addl￿onal demand¥ and posslbly rlsks too. •s
we Incre￿ the number of fwrnl•bon 9rnnts thot we h•¥e In par*kl to eath Other. AIthou9h we
uThlertook J str•tegk re¥kw of thb fvnction th the xouThl durlng 2023, It fNA$ lelt that the Inherent
rlsks stbl remalned.
CMARITV ACTivrriES AND PU8LZC Bf14£FfT
Support Network Is a th•rtty whlcb was establlshed In 1913 for ￿he preventlon •nd felltf of
P0￿rty.. In 9uldance concernlng publlc beneflt ('Publl¢ b¢nefit.' the publlc benefit requiremèrtt
(PBI).; 'Publlc beneflt: runnln9 0 thorlty IP82>'; 'Publlc benefit.. repo￿n9 {P83) and 'Publlc
benefit: rules for tharltles, February 201dl the Charlty Commlssion recognlsed th•t for Charltles
whSch have these ch•rltaWe obJeciive$, the rules relatlng to 'publle beneflt ère dlfferert In that:
In qenernl, purpose to be ¢h•rft•ble It must satlsfy both the publt'•ftd'benefit'•spects
ol publlc benefit. However, if the purpose Is to prevent or relieve poverty. the posltlort Is
diiferenL In the ¢4se ¢Y ¢h•rftle5 lor the relief (and In some cases the prevenrion) of JKJverty
the courts ¢onslder the publk benent requlrement can be met by ￿tIsfyIng the beneflt, aspert
only, In these cases th￿ Is no separate conslder•tton olthe public. aspect. Leqalrequl￿rnen£..
only ¢harltles wlth • wrpgse to relle¥e (and In some case$ to ornvent) poverty can define who
can beftellt ty refe￿nce to.. thwr lamlly reladonshlp (that means thék dexent Imm one
Indivldualj,. thvr employment by an employer• fhw"r mefflbershlp of •n unincorporated
f'Publk benellt,. the publlc beneflt requlr•menY Chw*ty Commlsslon. Septembtr 2013)
At 31 Ottember 2023, there were ovtr Il5,000 current Members of the IMechE In over 140
¢ountrtes •round the wortd. Taken tog¢th¢r wlth partners, wldows. wldow¢rs, thlldr•n. rnlatO¥es
Prytr70133

and other deperKlants of 51Jch member5 andlor lormer members Tmho Jre also ellglbl•, the
number of people ellglble lor 4s$1stance frnm Supp¢rt Network L* esiimated to be In tbe order
olat least 250,OIX) across the worltl. In Its. guld•nce concernlnq charltable purposes (fh•rltabl•
Purpose¢. Issts•d In September 2013 and upO•ted In September Z014) the Chèrlty Commlsslon
recogn15ed that 9enernMy. the rellef of ptyverty If￿Y￿e9 Itg preventlon •nd the preventlon of
pov•rty Indudes Its r¢ll•l:
TherE can be •&gMlute dellnl¢lon •f wb•t pD¥erty' ffll9ht fflun ￿fiCe problems
nq rtse to pgverty are multi-¢*mensOnal WK¢ cumulatlve. It Can oifett IndI￿d￿&ts and
whole eommunlties. It might be expertenced on • kn?9 orshortthtern? è•sls. Poverty can both
cre•te. and be <YEated by. Jdver5e sodal condltkn4 Js pow health and nutrtlkln. and
low *thIe￿?￿nt In ¢￿￿￿tkIn and other •re•s of human d•vehpment...7he prtvention or
r6llef olpoverty is not Just about glvlnq finandal •5siSt•nce to people who IKk m4>ney*
drcumstsnces In whlch It JTlses. The ¢￿￿mISSIon r•coqnlses th•t m•ny ch•rtUes th•t arn
concerned wlth Pre￿i￿n9 or1tlle￿g poverty wlll do so by add￿ both the cauM$
néedby ofyouth. tye, 111.l*lth, dlsabmlty, fir4nd*harthlp ortxherdlsodv￿IJg*. In n￿t
basls wlth tl* nornvjl tNng5 of life rnstpeaple rake for ¢rnnted. Ex•* ofMys In whlth
chartdes m4iht pelleve wverty knchjde.. grnnts of mty¥ey.' tho provlslon olltems {elther fftht or
on loDn) w¢h as fvrnlfvTr, beddlrtvw dothlw. fool. fvel. *)e•ttAg •p*lanc*4 mKhlnes and
meals on whed4 wtlry5 and entertw"nmen¢ ￿l￿-MIn￿n•. tdétse Iln4 Rt•s and utllleles.. the
t•¢hnlcal 5kllls travelliry expenses to heW the to earn tl*lr I1￿. ew1pm￿t and fimds
lor recreatlwl purnilts or trnlnlng Inte￿d to brlnq the ol Ilfe of the &kneftd•rfe5 to a
tember20J3)
Accordlngly. to meet Sts poverty rel4ted objects. ￿19port N•lw0￿ alm5 to prevert or relleve
poverty by prpvldln9 fifi•ndal grants arKllor nOn-fir￿n¢l•l support ser¥lces to *Mglble Indl¥Sduals
In 'need' du• ￿ experf•nclng dlfftuAtle5 In their Ilve5. such ￿ poor mental health, Kcld•nts. itt
health, dlsatHIlty. Ixre•¥ement. unemployment. rel￿o￿hlP bfe•kd¢wft. the sep•ratlon of
f•rnI￿•. meetlng the Ca￿ need* af othews. •ndlor subsequently returnlng to employment •fter
•ttendln9 to •ny ¢f the Mme. Thus. In adt11tl•n to c•sh 9rants and Interest-free secured lo•ns.
Support Netw￿* a150 provldes spedallst advbc•, Inft¥nr•tlM, guid•nce. Incilltat*d peer
mentorlngi empJoym•rtt coachlng. ￿UnSellIng. loneliness wpport. rtsplts bre•ks, •nd
mernber5hlps gf •utlsm •nd dyslexla s￿p?￿rt groups. At • detalled le¥￿ thls can Indude:
. Grants to dlsabled or Ananclally dls•dvantsged und•ryrnduateg. &vprentlus, Olplom• •nd
other sttsderts up to and Indudln9 those pursulng • PhD. to •Mble them to complete thelr
stud*e$ and thus to become self-sufflcfent. Idully ¥1• career5 In mech•nlcal etylne¢rtng.
. Profossbonal •mploymerrt ￿aChIng 5UPPOrt to who 4re unemploy•d, at of
r¢dund•ncy. •W•r to Improv• Jab seekjng pro5￿Cts, Indudlng P05t care¢trbre•k.
Pw8•fJJ

* On•-•ff p•ym¢nts ft>r purpose spedfic exp¢nditure, e.9. dl*•blllty •qulpm•nt.
• Tlm* Ilmlt¢d, 'bruthlnq sp•ce' grants to oddr•ss t•mporary or trnnSl￿0n•l dlfflrJJW.
. Interest-free se0J￿d lo•ni to homeowners e.g. to •sslst wlth o55•rt141 work5 or dls•blllty.
. Debt and money advlce.
* Th•m•d p•yment* to wtth p•rtlvJl•r •Jtp•ndltur• •.9. Wlnt•r W•rmth.
. Advlc¢ jnd wpport frvm •ndlor membersh5￿ of spoclallst ory•nli•tl•ns In respect of
•utlsm, d•mentl•, c4rt •nd the •ssocl•t•d d•fft•nds gf m••tlng th•se n¢¢Os.
• Provlslon of resplte breaks •nd oullngs lor ur•rs and tho for. *lther tog•thw or
p•t•t¢fy,
• A tolephon• b•lrl•ndlng •nd *odal ¥lJlts servlce to reduce ￿d¥1 Isol•tlon and lon•lln•M.
. Educ•uon•l. •ndlor Iffe enh•ndrw exg¢rl•ncei lor dli•bled eNldren. or at tlrnes of parnntsl
seporntlonl reduced Iltwnd•l drcumst•n¢e$.
Contrfbutlons towards meetln9 bulkllngs •nd unt•nts Insur•n¢• ¢orts.
. Gr•rt8 for lumRure. ￿ddIng• d•thlng. food. h•JtlTrJ ippll•nc•s. w•sNnp rn•thIn￿. frldgeB
Fuel grnnts •nd •neryy elhcl•rrty •dvke to emure that homel •re uf• •fid w•mi.
. T•lvphon*, tro•db•nd ond onllne access gr•nts to promote ￿¢1•1 Induslon.
• Nom• •merg8n¢y •lort systems and other adapt•Uons to en•bl• Indep•rtdent Il¥lThJ.
• Soff-•ccess onlln• Inl•rm•tlon quld•s.
Genw•l •nd legil •d¥lce In of everyday. •ndlor court rel•ted problem$. ensurfng
that IrthnT￿tIOll n••ds •r• r••dlly m•t •ndlor pot•ntl•l optlonl lor •Ltlon are Identfft•d In
tlm•ly m•nn•r.
. Contrbbutlons ta n•ceM•ry •ped•ll•t h••lth c•v• not wblldy •v•ll•bl•.
• The prnvl$lon ol equlpm•nt for dls•bl•d y¢pl•.
. New b•by 9r•nts for egsentl•l Items
. P•r•nVng •nd gr•n¢parnntln9 SllPPOrt h•lplln• •nd r•wur¢•s
GRANT DISTIZBUTION IM 2023
In deddlnq what Is￿5t)nCe lo offer. Support Netwgrk the needs of ••¢h •pplS¢•nt
•galnst thelr Indlvldu•l elrcumsr•nces, Indudlng thelr sod•l and •conomlc condltlons. W•
¢ognlx that poverty li • rnl•tlv• conupt. •nd wh•t wnstitutqs poverty In •n affluent soclety
Is very dlffvrent In •bMlute terms Irom po¥erty In • de¥eloplng Country. In thls r•g•rd. •nd
•sp•d•lly •• muth mort be und•rstood from • fac•-tt•-fKe coftversotlon at the appllcanvs
home, the org•nls•tlon pl•¢es conslder•ble wel9ht on the report Ind r¢comm•n¢Yatlon$ rnad¢
by th• Vliltor. recogn1￿￿9 thal partlcularty Int•rnitlonolly. tho94 b•Md l¢c•lly •re better •bl•
to Jud9e wh•t Is on approprljte •nd re•sonabl• st•nd•rd ftlr th• baslc n•cvsltl•s of Ilf¢. M¢ntal
he•lth dlfficultl¢$ •re •lw taken Into account. and v•ry often. a s•rles Ol vlilts wlll be requlred
to fully support appllcants lor whom mentsl health dlfficultle• •re an ongolng Issu•. Wher•
posslbl• all servlces are equally a¥•ll•bl•. Irrn$prttyw of 9•09raphlcal loc•tlon, •.9. Support
Network us•s •n employment spKl•ll¥t p•rtn*r th•t c*n pmlde thelr s•r¥I￿% on • wortdwld•
ts•￿% throu9h the use ol dlgltal rnAources. •m•ll •ndlor onlln• rnotlngs •nd contsd,
In s••klng to oxpJnO the tharIta￿* obJ•rtl¥•s, th• Trust••s had due r¢g•r¢ ro ihe Charftv
Commli$lon 9uldance on puOll¢ benefit •nd •cc¢rytlngly declded to comrnence fvr+dln9 proJert#
whlch would Increoge the r•a¢h of tho$¢ •sslsted to be beyond the deflned ell9lble gfOUP of
IMechE members and thelr rol•tlv•s. As such. the chorlty can now re•ch further In undertaklng
work to meet Its ¢>bJe¢tl¥es. and hos contlnued to moke such gr•nts slnce the flrst was made In
December 2020.
Pry•gof&l

Total grants {£) 2023 Includlng loans
210390.00
t70A15.52
E420.Crf>
PB
F**•
•GThM:&Jf•tyr
E303.00
.&53.43
£IOJ24.57
Total international grants (£) 2023
£400 E3.972 ÉSQO
E40D
Éa.QLV
.1
• PIINI £3
• LLIB•J E5110
• eGYprw
• GH&CE
• ￿P4G￿LI4G￿JwJ0
• IAeLANDfS04
El1511
MGEFYA W71X•
• PAXryTAXf4163
. PEm1É1.SOO
• SOUTr1 AFAICA fS94
.7
. TiMEYÉ400
10olJ>

ACHXEVEMEKf AIID P2APOAMAN¢É
AGtlvltlu pl•nn•d for 2013 w•
•IAxiffAzii A FOCUS OPI MEIITAL HEALTH IAITIATiVeS: Ourlng the year we wanted to cortlnue
t4 pmmote pr￿ttl￿ •ndlor prn¥efitstl¥e mea*Jres to malntaln 9o¢xI mert•l health and welM¥elTrJ.
We wartho to notlo and be respor¥lve to any is￿e$ of stloma IrekKtwce to ￿ch t)ut for help and
to rethope our offeMng5 to In dellv•dn* wpp(¥t to those In n•od icyoss a wlder r•nge of
areas. All ol these wern a¢hle¥ed. For example. we provlded 74 eounselMn9 9rnnts. ano expanded
the range al weblnars to 4ddress wellbelng ènd Ilnènd81 self-help measures, some of these belng
tary•thd to speclfic sertlons of the mernber5hlp e.g. mlgrnlnes. rnenopause. men'5 ment•1 health.
We promoted the IIW (NU￿rIng Empowerlng Supportlng Tralnlng) helplne and refenal s¢r¥ke to
help wrErts and c4rnr5 f••1 awlsted vAth prnctlcal and emot10￿1 knrer¥enlloft$ to m￿le thelr
com*Ung dEm•rxls at home 47nd at walk
VUATheA Assisr wmi IN¢lINtEAIIIG CAAttA FUTUReS: We eontlNJed to lo￿$ on our
S￿dent. Appret)ttce. and Newly ￿l￿ned grnnt pro9rnmrnes. both ITr the UK and Internatknnaly. We
were able to help many morn Intern•Yonal SbJdert5. the maJ¢rtty of tr*m IA t41gerfa. due to the
asslstarKe of our IAtrm•tion•l based Trustee. Th15 Ser￿￿ will be lurther rellned in 2024. We
coniirwed to deltrrtr our eryloyment tralnlA91 bre•k return and mentortng suppor¢ and
noiic*d that ¥thllst the numbe￿ of Indl¥klu•ls •s¥st•d kn th•v •ve•s was fawty ￿mIlIt to thot of
2022, the c(*mplexlty of the appll¢ant's hfe was Ngh. requlikng addlu0￿1 ongoln9
EXPA14D OUR FOUNDATZOM GAAPIT-MAKING: Our Intsrttion for the ye•r w•s to bulkl on our
Z022 wffjrk aAd experlence In thLs area, by maWrvJ more grnnts, Idealty xruss all of our taryet èrnas
af eduatIO￿ englneerfng Innov4tk)n Ind Internatlonal development •rnl to see more prDled5
through to completlon. All of these were Khlewed. In flnanclal ternis twe made awa￿ deelslons
amountlng to £197K, ai•ln almost d￿bIkn9 the EIOIK dlknbut•d In 2022. Our wort( wlth Tamos
Sthool In Kenya saw the constru¢tlM of a SCIen￿ dassn)orn and the subsequent dedsk*n to
Cornmen￿ solarlzatk•ft of th* s¢hool to work towanl$ eneryy selfvsufflclenvi. We mlded help to
support oryanlc fanYTrSng and •A Irrl9atlon system to evtniwaly s￿Ppfy Scho￿ meals, redudn9 the
need to annually fundralse lor the s•me. We bullt • trldge In Rw•nda ￿ conf*rt eommunltles •nd
•n•ble economk regeneratlon.
ADOPT ESG PRINCIPLES TO QUR INVESTME•IT POrnUO (•nvlronmM4 •0¢1•1,
gov•rn•nc•): DU￿A0 2023 we 5t•rte4J to undertak• our latest S-year rewfew ol our INve#m
Ix¥ldlrw5. We used same ts st•rt to Imlefflent our ￿￿sed Investment strateqy to Incory>orate
qreat¢r fo￿5 on In¥estlng wlthln our dedded ESG prtndples. Thls ￿11 fvrther aHgn our Investynents
wlth oyr rnlssknn of m•kltw a dIfferen￿ th￿Ph pre¥entln9 rtllevlng p¢¥erty, e.9. swltchln9
fvnds to sustalmble produrts Qu￿￿OnI￿AlInfluefiCi￿j Investment tNna9ers rt thelr #eps to
Inuw¢ thelr ESG prafile.
PLACE DiveuiTY & INCLUSIOII AT TM£ MEART OF ALL ThAT Wt DO Durfng year we
exp•nded vJr neurn dl¥ernlty olyering and hlped hmllles wlth thm, ADHD and 0stslexi• rdated
Issues. We created a co.le•d on Dfverslty and Induslon and expw*tted our webslte offerlngs to
Indude nutrltlon. stress, 4nxlety. mlgr•kn•, M•￿Pa￿ and m•n's mentsl he•lth topt£s. These have
proved to be very popular, both ID those who J04n the Il¥e event •nd thosè who later a¢¢w tr
r•cofdln9. We Obser4￿ htyw 50rne f4JbJe¢ts Were v*wed In much oie•ter numbers after the Inlual
e¥enL {e.9. A 9ulde to dLs•bllty benefits) sugoestkng that m•ny pref*rred to enga9e In a prhite
w•y. or at a tlme ol Ilay that was better 5ulted to thelr need5. We rE<TUted a new Tnotee ond
rnalntalned the proflle of havlng Boaro fflembe￿ who ar• engaged In bl stages ol tl*tr carEer.
r•ngln9 from underyrnduate S￿￿Y. to Inf<lol •r#t s•nk)r rnles, thnwgh io thmEnL The a9e proflt
tht 8oard 15 the youn9est It has e¥er been, 4 of the li membets are fem41e. and two are people
olcoktur. One Trustee Is o r￿￿-UK natlon41. based In Anoola. We h•¥e Increosed ourcommunb¢•tk>ns
to the 9￿bIl membersfvlp. and offEred onllne contact whenever an In person vlslt wjs rn)t posslble.
tlws IrKreaslno ihe peeTrtO-peer elemert af our wor
SERVICE USER FEEDBACK
Servlce users regularty tell us th•t our Interrtrttlon5 m•ke J posltl¥e dlfference to them Ind

thelr hmlly. e￿M￿e$ re¢•lv•d durlng 2023 Indud•d:
Thts gr•rt cauldftt h•trr ￿ffle•t • bettertlnrt It WHI hdp m•ul%ely wlth my aiergy &Ws
they are hlgh and seem to be InCW￿ ayln. espedalfy the cold we•thtr. Ab¥ln. th•nk you
ror•ll ywr help. betn be￿￿nd J m very¢r•tefvl to ywrsemand
J want4d to thank yw for refènty to the famlfy eoaollty •n wpport sernke (IlfST).
'.JJust wnted to exprem my grnutude to Infonnlnq me olthe Stithit Hard￿P Grnnt
wlth sui•&an￿1 • so pmmpty. Th15 wlll slpnlftcantly Imprn￿ my C￿n￿t￿tUatIoTr
fwbl¢r •mb•d my d•*rn to #•y connart•GI wlth JOlechE In my fvtyr• wv•r..."{UK a&yq stud•nt)
I wovld Ilkn to •nd the team fw suth help whlth h$ Ilfteda tvnne olwelqht
oifmy smuldws. 140 words can express my qrnUt¥d¢ •n6 would Il*• ro •xtwid • sp•d•l th•nlr trvu
to Pl•urnen lor yourqukk rfjponse and e*tr• JsJl¥t•K• In slqnpostlnp me to •1￿ to D•vk*
o ¢￿t every t1￿￿ J wk¢ to hlm •nd to •ll the Tru*ws forprntty muth
not ltyry•t th15 asslst•nu •nd God ffti •n..." (UX m•tiinp 145tWS St&tht wlth chlldr•n)
VINA14CfAL AIVIIIW
Support N•t*orf¢ has thr•• ffl•lN Murt•s ol Ineome: {•) don•tlons r•c•l¥•d from IM•chE
m•mbers durln9 tho year, wAth •ssocl•ted Glft Ald recdpt$ 4¥here •ppllcable: Ib) legacy and I
memorlam gift don•tlon$,' Ind {c) In¥•8tnMnt portfol10 g•lns. r•c•lv•d as dl¥ld•ntl Incom•.
ICaplt•l g•lns are •lso obtalned Irorn the I￿￿*trnent portfollo. •nd whore fvnd$ are helll
'accurnul•tbDn unlt$' •ny r•c•lpts •r* automatlcally reIn￿lted Into th• In￿ltm*fit ￿ld1ft4.
r•ther th•n dr•wn •% Incom• per se, In onl¢r for th• s•me to hDI¢ long-tqrm value •g•ln
chan9•s In Infl•tl•n o¥•r tlrnel. Swpport Netrwork hai •n unr•strlcted Investment fvnd whlch Is
Invested to pn>¥ld¢ • r¢gulJr •nd rellable iource ol Income lor Support Netwo￿. Th• Trnst••s
•r• legally bound to promot• th• b••t lon9-t•mi Interests of Support N•twork and to mak•
•dequ•te provlslon for tsoth present and fv¢ur• b•nQfldar1￿. The over•ll Investm¢nt polly 1$
to obt•ln the bert finindal return from Support Network'$ •ssets, con>lstent wlth •ccept•ble
sk. To achle¥e thls. the 9lwn powen of In¥•stm•nt wlll be ex•r¢lMd lo that the ￿$*15 yl•ld
the best IoFhg4erm r•turn by w•y of both lrt¢om• •nd uplt•l apprnd•tbon. Jud9ed In rditlon to
the rlsks gf In¥estrnent. The portlollg 1$ dlv•r51ff•d In r¢spert ol •H¢t ¢l•ss. qwgr•phlc41
•xposur• and Inv•#tm•nt m•na9•rs.
X) AAay
Th* net 9aln for the year ended 31 O•cernb•r 2023 11,114,276. exp•ndl¢ure w••
£1,012.847.
Volurt•ry Income. comprlslnq don•tlons be9￿$1$, wer• r•c•lv•d •t 4 value •f £Z61,835
(2022.. £274,694). In 2023. dlvldends and Int•rest from th• In¥ostm•nt portfollo •mount•d to
É1,011,672 12022: £1.031.983). The Trustees contlrwe to have ) preferred strnteoy of l•ry*lv
holdlng Support Network's equlty-based Inve5trnerts In •ccumulatlon unlts, (rather th*n
dr•wlno an Income stream frnm th• Game), In order to ollset •ny loss•s In c•plt41 ¥•lu•, •nd
hen￿ to help to preser¥e funds for the fvture, s•v¢ tor the COIF Ch•rlfvnd holdlng where •t
tlmes the dl¥ldtnd w•$ dr•wn In Qrder ¢0 prwlde gre•ter oper•tl•n•l Income durlng the flnandal

ve•r. Th• Trustees ag•ln declded the *rat¢9y of meetln9 any f¢MI ¢)perntlon•l delldt •t the
ve•r-end through dr*wlng from the reser¥e& rnther than lI￿tIng grnnt •r $ervlce pro¥l$lon
expendlture In year. From the tOUl expèndlture 99% was spent on charltable actl¥Stles 199%
In 2021). Thls Induded charftsble grnnts ol £582,431 (2022: £409,755).
J) Inv•stm•nt P•rtl•ll•
The allocètK)n of Support Nets¥ob*'s Invertment portlolk4 •t the dole of 2023
BEKMMAAX
29.4q6 e4uIt*s
M&G Charffund
41.8% Equltl¥
II&G Glow Dmdend Fund FTSE ￿ Sh•rt Index
12.1% Equltles
Fldellty Ir￿ltUrj¢nll Funds FfsE AU s￿￿￿ Ir4lex
8.8*h M4tltl AM¢t Charlty Mulll As*t FTSE All S￿le Index
Fund
5.6% Prwrty Ch•rlUes Property Fund HSBC piir lfidex
EquRles
COIF Invertrnnt Fur41
FfsE AN s￿re Index
COIF Deposk F￿nd
L￿••n tfiterbank ￿1*
COIF Flxed Inteyest Fund
WM Co. LIK 6onds
We do not h•¥• •ny control g¥er how the JP Oudln Trust Is In¥e5ted. though we recofv•
dlvldends from IL so It b Not Shown lfi thè Ihve5tment portl•llo al)ove.
Glven the low lrterut rntes now offered on cash depaslts, the amount held In the COIF
Depostt Fund has been malntsined at a low level.
4) •rtvlv•nm•nknl •r othl¢•l r•n•tr•lnts
In the annu•l revlew of Inyostment pollcy for the tharfty. the TfUSte¢s cvnsklued whether there
shwkl be •ny 50clal. envlronrnental or ethkèl conslderatlons to Imgose constr•lnts on how
Support Netwo￿ s￿VId in¥est and ¢t*mmen¢¢d %York to create a screemd esG (envlrnnment•l,
sust•ln•blet governance) I￿ssed •pproa¢h. Wlth many of the Inst*utkn% mernber5 worklng In
Industrfes <offlmoAIy •ttrfbuted to low ESG sct)rln41 the Trustee Board has taken 9rn•t conslderatlon
•$ to whether any Industrles should be TAholly exduded Irom the Invesbmert portfullo. Foljgwlng •
poll undertaken In lkn¥ombtr 2022, the Trustee 8o•rd cofflmltted to undentand Its ewgJr• to
•nd commeno extlmlon of In¥esbY*nts Irom t￿ pgrtfollo Irb the followhig •rtos:
gambllng I)pe￿On$
pornogrnphy & ￿Olert m•terfal
tobBCCO produttlDn
oppresslve reglmes
•nlrnJl te$￿Tr9
hlgh Interest lendlng
•knIMIl productstsn
P4• 130133

￿￿e$ wEihtyJt an ￿lI￿1•¥e l*iur pollcy
Reall9nrnent across these &reas commen¢ed In Febw•ry 2023 as Part of the 5wr cycllul
revlew of the or9anlsatlon's Investments, workln9 towards compkn retrthal èy the end of 2024.
5) Ru•rvq• Pollcy and )*$19n•t•d Fund
Support Netw￿￿ Is a 'dosed' ch•rlty In th•t It does not acllvoly seek fuT¥llng from outslde the
mernber5hlp of the Inthtlon of Mechanlcal Englnoets, E¥¢h year. a slgninunt prop•rtlon ol
the tharlty's Inc¢m• 1$ derlved trom annual •nd Irre9ular donatlofi$, and beque5t5, Legacy
Income, hgw¢v¢r. Is v•ry uncertaln, as ar* th* leve15 01 dO￿tIonS per se. ond It unn•t be
guaranteed that ¥olunt•ry Oonotlon levels wlll be r¢w•ted (or Irmased) year on year. In order
to 5afegU•fd the •ngolng provlslon of frants to CUTrert benefidartes. and to cover no
dls¢Jetlonary expendltur•, {su(h as 5alafle& pensk¥n c0ntrtbull0F￿. rent). the Trustees hold
reser¥es at a mlnlmum level of one yearf$ avernge expendlture. In •ntldpatlon of Invea$¢d
9rant glvlrvj •ndlor sod•l Ih¥estrnent lfittlatlves. It h•$ been agreed to In£rea5e the level of
reserve5 from £1,000,000 to £2.000,000.
Addltlon•lty, durlng 2020, Trustees agreed to ¢rvte a d•slgrwted fund to meet operatlonal
expendlture 'ln perpetulty. and set th15 fvnd at £8.000.000. As at 31 Decernber 2023, t¢)tsi
lunds exceeded thls comblned ÉIO,QOO.000 arnount. A¢eordlngly* the fvnds are held to ensur•
luture needs can be met. especlally If there Is an unexperted l•r9e*scale evert fequlrln9
addltlonal re50ur¢es to be pra￿ded e.g. a 51gnffiunt downturn In a sector of the rnechantc•l
eftgineerfAg Industry •t * date.
Accordlngly. the Trusteu are cordld•nt that th• Introducod fouThl•tlon glvlng approath be
fvrther Implemtnttd and establlshed. Js the level ol Immedkite and long-terni reser¥ts has
been more th&n achle¥ed, •rtt1 that thls Is •n •rtlve strategy In order to best use some of these
resources. Th• f•Mrves pollcy Is revl•wed annv•llyi tsklng Into account the latest tsrecasts of
Incorne. expendliurÈ and th•nges In 9rart rna￿n9 pollcy.
6) Gr•nt M•king Poli¢v
All 9r•nts m•de In 2023 wert for the benefit of Indlvlduals. 5J¥e for the foundatlon fuftdlng
grants that detalled below. In 2023. 386 members contKted us ft+r the flrst tlme (2022:
228). thelr re¢uests irKludlng t*lp wlth flnonces. employment co¥¢hln91 dyslexla support. sodal
vl*ts or legèl advlce. Durfng th¢ y*ar 917 grant payrnents were mad• (2022.. 825). Tho rnajodty
of grants and support declslons were elther determinedlconflrmed by the Grants Commlttee.
(whlth met twlce durlng the yearl. through the remote decI￿Oft maklng panels. or were lfiltl•lly
made by the $taff team, and subsequently j￿hOr$Se￿ by J deslgnated Trustee through the
Office Declslons process. All proposed Office D¢clslons were made availalAe on J password
re$r￿cle0 basls to Trustees vla the Extranet, to allow Tn&stees to see whether they ayr•èd wit
the dtclslons made by the OL) Trustee. Where the ChHlr, CEO ¢r th¢ Operations Mana9er made
grant fvnding dedslons. these v•erÈ made wlthln the agreed éeleg•ted Ilmlts ol both value aF
type of èward. and were reported to the subsequent Grnnt Committee meetln9.
Conslder•ble care Is taken to ensure that appllcants •re able to apply for •ll welfare beneffts.
state support Jndlor tsther thlrd patty asslstantè thot they mlght be entitled to. beft¥re
charltable grants art rnadè. Support Netwark alms to make a poJltl¥e Impact and dlfferefice on
the Ilves ol people who are asslsted, and accordlngly •t the outset ol provlding SllPPOrt. th•
avoldance of creatlng long-term dependency Is paramount. 50 that wherever posslble. people
are ttelped to help themselves.
Examples of grants awarded Induded.. *lowances towards fuel •nO utility costs: travellln9

expenses lor vlsltln9 people In hospjtal or nurslng care; t•l•¥llon I1¢•n￿ f¢¢s; telephon¢ ull5;
eompLrter eqvlprnent. braadband and wlfi access,. crlsls payments to re1b￿e sudd•n
unarttldpated finan¢l•l needs; repl•¢em¢nt Items such as washlng mathlnes, cookers. frfdge5.
heaUng appllan¢es.' h¢al¢h and m¢dl¢al ¢4ulpment* powered moblllty ¥ehldes: e55entlal 1kn1se
repalrs and Insulatlon; adaptatlons t• the homes of d15•bled ptople,. gJrdenlng costs lor older
people: care help at home; personal emeryency alams; arran9ernÈnts for respfte ure •nd the
¢05t5 Qf resplte bre•k5: •nd •551stJnce towards re¥deniial and care home care costs.
A separate programrne of grants Is a¥èllable for dts•bl•O or dTrudv•n¢agEtt Apprentlce$,
undergradua￿S. and other studenls who •re IMechE members, Irrespertlve of where In the
world they Ilve or study. A Newty Qu•llfied Fund Is •¥Jll•ble lor IMechE members who have
completed thelr studles or tralnln9 In the lrnmedlate past 3 years. whlth seeks to e&sE the
trnnsltlon inro the world of work.
The f¢und•tlon fvndlr4 elemeot of our work Is dl¥ldod Into the •re•s Of Intern4tlon•l
development: educatlon: and englneerlng Innovatlon. We w•nt our work In thue areas to
Ideally ￿¥* • STEM {sdence, tn9lnetrfng. technology. math•m•tks) l•¢us 4r￿ to •150 all9n
wlth the work of the IMechE. W• •d￿￿onI1*Y fr•me these areas ￿1￿ th• UN Sust•lnabl¢
De¥el4pment Goal$. Wthllst we have • prefernnce for M•￿Tr9 •ward to or through UK based
charftable t)ryanls•tlon5 {05 we feel that In the Inltlal stsges of our enterffftg thls work thlj Is
dose '￿ for undertaklng our due dlllgen¢e process} thls Is not a fixed ￿qU1￿Ment, esped•lly
where we feel th•t the ultlmate outtomes and Imp•rt of the funded work wlll help us to meet
ovr expanded tharftable objertlvos In rosyd of uslng englneerin9 to relieve poverty.
7 J P¢n¥lon Fund•
All current Support P4etwork st•ff are enrolled In the IMechE's cantr1t￿tI0n bJ5ed pen¥lon
scheme whlch Is oper•ted by Scottlsh Wldow5 plc. t)U￿A9 2023. the employer r•te w45 10%
(2022: 10%). The (grnpany used to operate a defined benefft scheme whl¢h 15 now d¢yJed. As
prescrlbed by FAS 102. the fundlng level of the dellned benefit p•nsipn fvrvj must be dlsdtssed.
After an èrtuaflal report carrled out fvr the lMechE consolldited accounts to 31st December
1023, the penslon fund ¥Yas 100% fvnded.
St•t•m¢nt •f Tru¥t•e•' rq•p•n•lblllllw lfi i••p•¢t Qf th• Tru•tMB' •nftu•l v•port •nd
the flnand•l st•t•m•nts
Th• Trttstees •re rejponslble for preparfng the Trustees, Afin￿l Repart and tm fln•n¢lal
st•tements In •ctord4ince wlth appllcable law 4nd r¢gulatk)ns. Compally l•w r*qulrns the
Tnjstees to prtparr ftn)Trdal st•tements for each nnand•l yr•r. Under th•t law they have •r*
requlred to prepare the flnandil stJtements In 4Kconlanv wlth UK Accr4Jntirt9 St4fjdanls and
Ipptk•bl• llw {UK Generally Accepted Acctyjntlng Pr•ctlce).
Under company law t￿ Trus￿*5 rnust not •ppro¥e the fln•ndal statem•nts unl•ss th•y av*
¥•tlsfted that they glve a true and l•lr ¥lew of the stste of affalrs ol the ch•rtt•ble company and
of the ex￿5 of Incorne over expenditure for that pwlod. In preparlng these finandal
ststements, the Tristees are requlred to select sult•ble ￿￿O￿ntIng pollcles ar￿ then apply them
n￿ltentty. make Judgements and estlrnates that are F*•son•ble •nd prudent: st•t• 4vhether
•ppllcoble LIK kcountlng 5tsndords have been followed. $ybJe¢t to any matertal departures
dlsdosed •nd explalned In the flnanclal st•tement$' ano prepare the financlal ststemffits on
the golng concern ba$1$ unless It 15 Inapproprlate to presume that the charttable ¢omp•ny wlll
grtlnue actlvltles.
The Trustees •re respon￿ble for ke•pln9 adequ•te •ccouniift9 rttords th)t arn suftklert to
show and explaln the charlt•ble comp•nVs transactbons antl disdose ¥41th reasonable
•t •Thy Ume the flnondal posltlon of the tharltable COm￿nY •nd e￿ble them to ensurn th* the
P4• 15alJJ

fln•nd•l #at•ments ￿PIY wfth the Comginles Act 2006. Th•y h•v• g•n•r•l Trspon$lblllty for
taklng such steps ￿ •rn r•asonably open to thern ts safrgu•rd the •Mets of th¢ tharlt•ble
cornpjny •nd tg prnvont and detert frwd •nd other Irregvl•rttyes.
e•ch ol the per￿￿ who Is a TnJ•tse •t the d•t• of •pprov•l of t1￿6 r•port cMfinTrs th•t:
So l•r *% eath Tnwtet L* •v4•re. t￿re Is no rnl•¥•nt •udlt Inttym•tygn ol whlth th•
comp•hy's •udttor Is unaware; 4nd
E•ch Trust•¢ has tsken •ll stsps th•t they •ught to have taken as • Trustee to m•k•
th•msdvos •ware of any rnlo¥•nt audlt Inforniatlon 4nd tv ert•bllsh th•t the ¢ot)M)any'
•udltor l• •w•ro of th•t InfDrm•tlon.
Th• tn4t•H hJv• l•k•n •dvantsgt ¢1 the •m•ll wnwnl•s •xempUon In preparfryJ th• tnMt•¢rf
•Mual rnport •nd th• rtat•moAt&
PLANS FimiRI PERXOOS
Jrtw 2024 Suppw¢ P4•iWO￿ pl•n• to eortlnve wr work *Nlsi mpwdln9 to •ddltJon•l n¢•d•
Ind tholhThJ•s faced by rnembers and thelr f4mlllM. As wo WIN wotr* to..
AZNTAIM A FOCUS 011 MeMYAL MEALTN rpirriATIVI•: Cofttknu¢ to prnmrt• and provlde
PO￿tIve Mdlor P￿VentatIve mea5ur*s to m•lnt•ln #ood meht•l heilth •nd wellJelrvJ. e•ped•lly In
rn•p•rt a¢ th• ty4#-01-Il¥lng ql•l•. •nd be r•¥onslv• to the p•re•l￿tI Itl9m• frlt by ￿me •ppMr4nts
and r4•h•p• aur off•rlngo ty ••slit In d•llverlho ￿pport to thom In need. Further expand ￿rrInt
off•rlng to •ddrets ts•ues rnl•tlr4 to l¢n•lln•M; poor nulrtloh. counRI*KI M•ds; r•l•tk)n•hlp
èr••kdown; pw•nUn9 IllPPOrt: g•mbllng: sub•t•nc• •bU￿. •nd •nx*ty.
ASSIST V4rn1 E14GZNeiRThfj VVTURISI Contlnu• to foa4$ 1)n Studert Apprnntlc•,
•i•d Newty Qua¥lled gr•nt Prngr•mmes. both In the UK and Int¢m•tlon•llyi plys •mployffl•nt
tr•lnlTrJi urn•r brnak T•￿rn and mentorlng supporL wlth • core ruponse to m•mbers •t rlik
oflexpertE￿Ing redund•ny to en•bh them to enter. rt*nter ¢x rem•ln kn •nglrthdnq or related
p•lh•. W¢fk In wrtnershlp wlth th• lfvl•thElath•rs to support prngr•rnmu t￿t en•b* sfEM
lopJsttd work experl•n¢* pro9r•mffte• andlor rEmo¥e barrlers to enterkn9 the me¢honlc•l
lr4lfietrtn• prof•Mlon •$ p•rt of gur dlwrnlty •nd Inclv•*n work. Exp•nd t)ur aff*rln9S to Arn*d
Forcu •n41 SYB41 return¢rn.
AXINDATXOII GAAIIT4IAKll•O1 Bulld on ovr 2023 TNOrt and furthw le•mlng kn thlj •r•• thrtyJ9h
our strnteglc ftvlew. to m•ke 9rnnts durfn9 2024. and ensure th•t e•th oi #rnnd$ or
educoiion. ehibrtertnv Inno¥•t*n Intem•Uon•l d*4eltspmert Is SUPPe4rted. Furtl*r rewew t)ur
eohtrtbutlon thvou9h the Sw9r•1n•b￿ D•¥•lopment Goals (s￿1) undert4ke
to meet the dlm•te crllls.
IMPLEMENT ISG PMXMCIPLU TO OUR IiivimieNT PORTIOUQ (•mrtvMm•n(
•ov•rn•nA) •nd UNDERTAKE FZPIANCXAL AEYAEWI Durlng 2024 we wlll Implem•nt th•
hanges rtqulrtd 10 reytnirture our Iiwesbll•nt portfollo wlth our revlsed In¥estrnent str4tegy and
ESG pollths a+S)pt•d 2023, In orO•r to furth•r allgn our In￿stMents t*th our mlmlon.
Lthd•rt•kn • re¥lew vl fi￿￿¢•. do￿t￿n$ •nd fr•ud prottttlon prncemes and polkles.
PLACI DIVE￿ & ZMCUISXOM AT TME HEAAT OF ALL ThAT WE IK>: ￿￿￿taIn our global
re*1 tt¥ Ind1¥1d￿l IMechE MIM￿15 In rnsport of 9rnnts, ¥duntrerlng and Truste•
opportunltks thrtyjgh •d•Wng our pnbc•sMs to r•rnov• b•rrltf5 to engJgemellt wlth ys •.g.
est•bllshln9 dlgft41 workkn9 as our elFethfe norm. CoAVrwe to urtdert•ke an howstlc aPpTh￿ to
c•Mwork •nsuth9 thot addliknid Isxles wch as dlsatylllty, carer ruponslbllluu. thy1￿1 or mwtal
h•alth15sU•S: pos51￿¢ Olscrlmln•tlDn •t work are Idertlfied- e¥en when thele not the pvesentlng
prnbkn - •nd IrKrease eifert￿ gfmts •nd setyke r¢spow tD the same. Undert•ke member
P*•11rf

sumy and fo(ts group resear¢tt to sh•p¢ off¢rlngS to whlesi member need and to complemert
the IM¢thE strntegy.
IN APPRECIATION
The TnJ$tees would Ilke to con¥ey thelr slneere thanks to the many ¥olunt¢•rs who ha¥e $0
gefterou￿Y glven thelr tlme In assistin9 Supptsrt Network. •nd especlally for thelr contlnu•d
adaptsbillty jnd commltment durlng the ext•nded perlods of ID¢kd?wn ond enforced onllne
'visltlng'. They would •150 Ilke to express thelr thanks to tht staff, who have ¢ontlnued to worle
effectlvety throu9hout the year. adaptlng to worklng from home and belng •w•y frorn
coll¢agu¢$, The comblned team of staff and ¥olunte¢rs rnake It posslble to contlnue the tharfty's
essentlal v•ork of rellevlng poverty whllst mlnlrnlyng admlnistr)tlve overheads. Gratitude Is also
expressed to IMechE collea9ues lor thelr 5UPPOrt and a5s1stsnce throu9hout thè year. Wlth the
ntlnued contrlbutlon ol th1$ romblned team. Support Network looks forw•rd wlth ¢onlldence
to •nhandng the Ilves of IMechE m¢mbers and thelr dependents who llnd themselves In nee(1
of asslstan¢e. •ftd addltlonaly to extendlng •nd expandlrvJ wr fvundauon fvndln9 work and
•5S(KlJted ifflyct.
Bruce
¢h•ir
wland, Trn••urnr
P4• 170133

A•lv•n¢• •nd Admlnl•tr•tlv• ZnI•rrnat￿Tr
Nam•.' The 8¢nevolent Fund ol the Instltutlon of Medwnlc•l Englne•rs (Support
Il•twork)
Cttarlty R¢•. No.209465 Comg•ny R¢9. 149.1309ei Reglstered Office.. 3 Blrdcwe W•lk.
London SWIH 9JJ
ROLÉ
NAM
2D23 TB
rTE
Yr•asurvr
MI￿0￿•1 T
M•mb•r Tntsthe
Andrw Aowl•
c1￿￿￿u￿
HDrthlth• M•
Yo
To
P*•slp
El￿bath W
J¢knn Conlorth
bob C￿h
Tnnt•e
rru5t••
Trwf••
K•y i• C•mmllt•••
Member ol the Grants Cornmlttee
Member of the P•rsoNnel Commlit
Memb•r al th• Flnance Commltt
Co-le•d On Communlcatlons Jnd IM•thE r•latlonshlp
Co-fepresentatlve on IMe¢hE ￿ver$Ity & Indywon Qoord
M•mber of the New Apgll¢•tk*n PaMI
Member of the Stud•nt & Appr¢ntlushlp P4nel
Member ol th• Offlce Oeclslon Panel
L••d on G•n•r•l Data Prgtectlon R*gulitlon•
L••d on Found•tl•n Fundlng
Imeche Redu¢ed Sybxrlpiions panel repreMntatlv•
L•ad on marnborshlp survey & rel•tlons
io
li
12
Kay M•n•••m•nt P•v•onn•l
The Trustees h•ve delegOte¢J $19nlflc•nt Juthortty and rejponslblllty In th• d•y-io.d•y
nJnnlng ol the chorfty to the Chlei ex•cutl¥•. Annl Broadhead.
Inv•*tm•nt M•n•ger•:
Cazenove Schroder & Co. Llmlt•d. 31 Gr*sh•m Strn•t, London ec2V 7QA
CCLA Inv*5tmont M•n•gem*nt Umlted. 80 Che•pslde, London EC2V 6DZ
Cordea Sèvllls LLP. 33 M•rg•ret street. London WIG OJD
Fldeiiry Int•m•tlonal, 130 Tonbrldge Ro•d, Tonbrfdge, Kent, TNI 1 9DZ
M&G Ltd. Laurence Pountney Hlll. London EC4R OHH
••nk•r•: Natwest Bank plc. 38 Strand, Lo￿19￿ WC2N 5J8
Audlt•rn: Moore KinpAon Smlth LLP. 6th Floor, 9 Appold St, London EC2A 2AP
S•llclt•r•: Blrcham Dyson Bell, 50 Broadway. London SWIH OEJL
P4•11￿$)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE
BENEVOLENT FUND OF THE INSTITUTION OF MECHANICAL
ENGINEERS
Oplnlon
We have audited the finanaal 5taternents of The Benevolent Fund of the Institutlon of Mechanical
Engineers I'the company'l for the year ended 31 December 2023 which cotnpn5e the Statement of
Financial Activitie5. the Summary Income a[￿ Ex￿nditUre Account. the 8alantr Sheet, the Cash
Flow Ststementl ènd notes io the financial statements. Including significant accounting ￿1￿cleS. The
financial rep)rting framework that has been applied In their preparation is atv4icable law an¢J United
Kingdom Accounbng Standards. Including FRS 102 'The Finanoal Reporting Stsndar¢J App11¢able In
the UK and RepU￿1C of Irelond. {Uniteil Kingth)m Generally Accepted Accountsng Pracbcel.
In our opinw)n the financol statements..
give a trve and fatr view of the thte of the charitable tompany's affairs as at 31 December
2023 and of its incoming resources and application of resources. Including its income and
expenditure. for the year then erMJed-
have been propedy prepared in accordan￿ with Unrted KiTrgdorn Generally Accepted
Accounting Prartice." and
have been prepared in o¢ts)rfance with the reqtsireff￿ts of the CompaTh￿ Att 2006.
Ba515 for oplnlon
We conducted our audrf( in accordance with Intemabonal Standards on Audibn9 IVKI IIS*s IUKII
and apF4icable low. Our resFx)n%bilities under those stsndards are fvrther de5cniEd In the Auditor's
Responsibilities for the audit of the financjal statements section of 04Jr reFort. We a￿ Indepen¢Jent
of the Charnta￿e company In accordance with the ethir31 reouirements that ao ￿le¥afil to our audit
of the ftnancial st6ternents In the UK, induding the FRC'S Ethical Standard, and we have fulfilled our
other ethical res￿nsIbIlitieS in attordafice with these reqU1￿Ments. We believe thot the autlit
evidence ¥Ye have obtained Is suffKient and appropnate to provide a basis for our op¥nion.
Conclusions relating to golng concern
In auditing the financial sratements. we have conduded Ihat the tnJ5tees' use of the going concern
basis of accounting In the p￿pa￿trOn of the financkil ststements Is apprDPnate.
&3sed on the work we have perforn￿. Y4e have not identifi&Y any matenal Un￿rtaIntieS relating to
events or conditions that, Individuèlly or cOl￿V￿y1 rnay cast signifKant doubt on the chantable
cornpany's 6bility to continue as a going concem for a penod of at least twelve months from when
the finanoal staterv*nts are authorised for issue.
Our ￿P)nsI￿11t*S and the resp)nsibilitses of the trustees resFert to going COn￿M are
descnbed in the relevant sethons of this reF4)rt.
Other InfornwtloTh
The other inf0rrnat￿n comprise5 the Infomiatl￿l indudeLI IrTr the annual rep)rt, other than the
financial statements and our auditorfs rÈrKJrt thereon. The trustees are re5F¢)nsible For the other
Inforrnabon contained within the annual rewrt. Our opnion on the finantial statements does not
cover the other Inforrnabon and, except to the extent othwwise eXpl￿￿V 5tsted In our ￿IK)rt. we
do not express any forni of assurance cOndU￿n thereon.
Our responsibility is to read the other information and, In doing so. congder whether the other
infom)ation is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit or otherwise appear5 to ￿ materially misstated. If we Identify such material
inconsistencie5 or apparent matenal misstatements. we a￿ required to determine ¥Yhether the￿ Is
a material rnisstaternent In the financial statements thern5elves. If. base<J on the work vle have
perfrjmied. we conclude that there Is a matenèl mtssrater￿t of th15 Other Infom)ation. vie are
Page 19 of 33

required to report that faci.
We have nothin9 to report in this ￿gard.
Oplnlon* on other m•tttr¥ prescrlbed by the Companles Art 2006
In our oplnlon, based on the work undertaken in the course of the audlt..
the Information given in the trustees, annual report for the financial year For which the
financial statements a￿ prepa￿d 15 consistent with the financial staternent5' and
the trustees. annual report have been prepa￿4 in accordance wlth applicable legal
requlrements.
Matt•r¥ on whlch we are requlr•d to r•port by exceptlon
In the light of the knowledge and understsnding of the company and its environment obtained In
the course of the audit. we hove not identified material misstatement5 in the trustees, annual ￿pOrt.
We have nothlng to report In respect of rhe followlng matters Whe￿ the Companies Act 2006 requires
us to rèport to you If. In our oplnion..
dequate èccounting records have not been kept, or returns adequate for cur audlt have not
been recelved from branches not visited by us,. or
the financial statements are nor In agreement with the accountin9 records and ￿tUMS,. or
certain disclosu￿$ of trustee5' remuneratlon specifled by law are noi made., or
we have not recelved all the Informatlon and explanatlons vle require for our au¢lt,' or
rhe trustee5 were not enritled to prepare the flnancial statements In accordance with the
small companies ￿gIMe and take advantage of the small companles exemptlon in preparlng
the rrustee5' annual report and from preparlng a strategic report.
R•spon•lbllltl•• of trustees
AS explained more fully in th• tru5tees' responslbilltles statemenr set out on page 12. rhe trustees
(who are also rhe directors of the cttarita￿e company for the purposes of company lav41 are
responsible for the preparatlon OF the financial statements and for being satisfied that they give a
true and fair view. and for such Intsmal control as the trustees deterlnlne Is necessary to enable the
preparatlon of financial statements that are free from matenal misstatement, whether due to fraud
or error.
In prepanng the financial statements, the trustees are responsible for assessing the charitable
company's ability to contlnue as a golng concern, disclosing, as applicable, matters related to 9oin
concern and using the goin9 concern basls of accounting unless the trustees either Intenoj to liquldate
the chantable company or to cease operations, or have no realistic alternatlve but to do so.
Audlttsr'• Respon•lbllltl•• for th• au¢lt of th• flnandal *t•tements
Ourobjectives are to obtain reasonable assurance about whether the financial statements as 8 whole
are free from marerial m15Statement, ¥vhether due to fraud or error, and to Issue an auditor's report
that Includes our opinion. Reasonable assurance Is a high level of assurance. but is not a guarantee
that an audit conducted In aecordance with ISAS IUKI will always detect a material missratement
when It exists. Mi55tètements can arise froffl fraud or error and are conSide￿d material If,
Indlvidually or in aggregate. they could reasonably be expeeted to infiuence the econornic decisions
of users taken on the basis of these financial sratements.
As part of an audit In accordance with ISAS IUKI we exercise professional Judgement Jnd maintain
professional stepticlsm throughout the audit. We also..
Identify and assess the risks of material misstaternent of the flnancial statements, whether
due to fraud or error, design and perform audit p￿￿dureS reswnsive to those risks, and
obtain audit evidence that is sufficient and appropnate to provide a bas15 for our opinion.
The risk of not detecting a rnaterial rrisstatement resulting frorr fraud Is hlgher than for one
resulting from error, as fraud May involve collusion, For9ery. Intentional omission5,
m15rep￿sentatl0n5, or the overrlde of Intemal control.
Page 20 of 33

Obtain an understaftding of intern& rontrol relevant to the audit in order to design audit
pr(xedures that a￿ appropnate in the circurnstan￿. but not for the purposes of eXp￿$s1Thg
an opinion on the effettsveness of the chantable ctsmpany's internal LDntrol.
Evaluate the appropriateness of accounting rKJlioes used and the reasonableness of
accounting estsmates and rdat&J disdosures made by the trustees.
C(&nclude on the approwateness of the tnJstees' useof the going cOn￿M bags ofaccounting
and, based on the audit evidence obtained. wttethÈr a material uncertainty exists related to
events or conditions that may catt significant doltbt on the chantsble cornpany's ability to
contsnue as a going concem. If we conclu(le that a matenal Un￿rtaInty exist5, we are
requi￿ to draw attention In our auditorfs rewrt to the relate(I dl5d0su￿ in the financial
statements or. if such d+￿I0$ureS are inadequate. to modify our opinion. Our conclusions
are on the audit eviden￿ obtained up to the date of our auditor's report. However.
futu￿ events or condrtJon5 may cause the charitsUe company to ￿se to continue as a
going concern.
Evaluate the overall E¥￿tatsOn. Stnlctu￿ anLI content of the finanaal statsments.
including the disclosures. and whether the financial ststements represent the undedying
trdnsaLtions and events in a manner that achieve5 fair presentation.
We communicate with those tharged governan￿ wardirbgi among other matters. the planned
scope and timing of the audit and significaftt finding5, induding any ￿nifiCant deficiencies in
internal control that we identify d￿nfig our audit.
Explanation as to what extert the audit was (4￿5•dered capabl¢ of deterting irre9ularltle
includlng fraud
IrregUlar￿leS, induding fraud. are Instan￿ of non-coM￿lan￿ laws and wulabons. We deggn
pro￿ureS in line with our responsibilrties. oudined atK>ve, to detect matenal misstatÈment5 in
respett of irregulanties, Indudin9 fraud. The extent to which our prccedures are capèble of tjetecting
Ir￿Ul3r1tIeS, including fraud Is detailed l*￿w.
The objettives of our audit in respert of fraud. are.. to identify and assess the risks of material
rni55taternent of the financial statÈrT*nts due to fraud.. to obtain sufficiwt apprDpriate audit evidence
regarding the assessed n5ks of matenal misstatement due to fraud. through de51gnin9 and
Implementing appropnate responses to those o55e5sed nsks." and to ￿ptsnd appropriately to
Instance5 Of fraud or susmed fva￿d ithtified durin9 the audit. HowevÈr. the prirnary responsibility
for the prevention and detecbon of fraud rests with ￿)th tTWla9ement and those thargetl with
govemance of the tharitsble company.
Our approach was as follows..
We obtained an understanding of the legal and regulatory requirements applicable to the
charitable company and congdered that the most Significant are the Compan￿5 Act 2006,
the the Charity SORP. and UK financial ￿￿rtIng standarts as Issued by the Financol
Rep)rtng Counal.
We obt6ineiJ an understanding of how the charitable company complies with these
requirements by discussions with rnanager￿t and those charyed with governan￿.
We assessed the nsk of matenal m155taterrent of the financièl 5taternents. Including the risk
of matenal misstatement due to fraud and how It mKJht occur. by holding di5CUSgons wth
ana9ement and those charged w&th w¥eman￿.
We Inquired of management and those charged with governance as to any kntswn 1nStsn￿S
of non-compliance or 5USkErted DOn￿mplian￿ with laws and regulations.
Based on this understanding. we <Jesigned specific oppropriate audi( procedure5 to identify
instsnce5 of non-compliance with laws and regulation5. This Inclu¢Jed mèking enquines of
Pa9e21of33

management and those charged with governance and obtaining additional co￿obOrative
evidence as required.
There are Inherent limitations in the audffc procedures descrlbed above. We are less likely to become
aware of Instances of non-complianc& wlth laws and ￿gUlatIonS that are not ¢losely related to events
and transattions ￿flerted in the financial 5tatetnents. Also, the risk of not detecting a material
tnisstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud
may involve deliberate concealrnent byi for exafflple. for9ery or Intentional misrepresentatsons, or
through collusion.
Use of our report
This report is Made 501ely tts the charitable company's mernbers. as a bcdy. in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work hès been undÈrtakÈn so that we
might state to the company's rnembers those matters we are ￿quired to state to them in an auditor's
)rt and for no other purpose. To the fullest extent permitt￿ by law, we do not ac￿pt or assurne
sponsibility to any party other than the charitable company and charitable corrpany's members as
body, for our audit work, for this rep)rt. or for the opinions we have fomied.
Jonathan Aikens (Partner)
for and on behalf of MO0￿ Kingston Smith LLP. sratutory Auditor
Sixth Floor
9 Appold Street
London
EC2A 2AP
Date.. 19 August 2024
Page 22 of 33

Tqt•l
1.IM4
14
14
14
P412)￿

Th• 8anavol•nt Fund of th• In8tltutlpn of Mechankal Englne•rs
Baline• She•t
For the y￿1 31 D•c•ml)er 2023
Tolal
FundB
Tolal
Fund•
Slod( Mwk•i Inw•kn•b*•
33.7TO.586
32.78¢521
T0￿fiXed a￿ts
12
11
io
51893
168.848
C••h al WKI fft harnl
Low (d￿ aft•r morn thAn on• swr)
141.749
U•bllIII¢•
13
117.039
121.
121
1.348.770
1238,559
35119356
Th• fvnd8 of th• ch•th:
27.119.356
26.1*)5.080
and on hs belwl br."
. Tro•wr•r.
The nrth nvmb•red 1 to 20 forni port ofttr•* •cwM*•.
Cry#ny ￿mI￿r 13M1
Pap14￿9>

Benevol•nt Fund of th• In8tltullon of Mochanlcal Englne8rs
Statement of Ca8h Flo
For lh•
ear ended 31 Dec•mb•r 2023
2022
C••h trlow• from op•rntlry •cll¥W•&'
C••h Ilow• from In¥••llw •cdvS11M:
Oa8.873
478.013
181
(150.C(M
100,000
140.802
PrvrA•d• from Ml• af inw•trM
,000
(78,489)
Ptsl y4y4ld•d by lTh¥••tlng acllvli
59.931
1.818
141.749
141.749
188,
N•t l•xp•ndknylnMrn• lor th• 9•r￿￿
Il•t In¢¢m• fovth• rnportlng
u•lm•nt• fvr..
Orld•nd•. irt•r•t frtyn
1.114276
(181,596)
(1,011,6n) (1,031.9#3)
D￿1••￿ I {UKf•M•) kn d•btorn
IncrnM• l (d•crnaw) In crndlor4
(G•1￿) I k)••fv on In¥utm•nts
Ihl C••h •¢dvW
(n.281)
100.9281
51,134
1515.725
1834,1231
1515,6481
Al 01thriJ Ca•hllo*• Non￿
N•t D•bl 1401•
Cmh
141,749
168.048
49
P•pasd33

Th• 8•n•volwrt Fund of the Instltutlon of Mechanlcal Englnoern
Accouniing Policles
For th• y•ar •nd•d 311)K•mb•r 2023
AcwJp4nNG POUCIE8
The CthArty * a prW• fjm*•d compjny Iclwity R•J. No 211948S Compwy Rty. No 130981). ¥thWch li
Incwpty*•d drynicihd in th• UK *ThJ • publk benofrt •ntity. The a*Jruo d th• rn0tyt￿d olkn ii:
3 8ird¢•g0 Wdk. SW1H 9JJ.
•1 VA818 OF ACCOUIITINQ
Th• accounts (finwKi•l •i•t•m•nts) be•n y•pwwl In •eetyl•nc• tl4• Chwts• SORP
IFRS1021 to w•￿11￿ their K%ount• kn •ccord•r#>J with FRS102 th•
R•wtsng St&￿￿1, indudry Upd41• 8ulb•Yn l •ppl¢•bl• In thè UK RtyL*lic of Ir•l•nd, t
Ctynp•th AQ X<*. •nd th• UK G•fi•￿y Acupled PrKtlc• ￿ 11 from 1 J￿￿NY 2015.
Th• ac¢ounl• 1P￿[¢•t￿o •NI company law In E￿n￿ •nd WIM.
Th• •ltsn•nts w• prwrnd i• the ftmclloml tho oofflpmy.
D￿ry •moufits In Ihe•• fln•ncW *l*•nwrts •rn round•d to th• nwo•l p(xThl. Th• ffin•nc
bl aoiNO CONCEAN
Th lkn•ncld •t*•mnt• h•* b••n pr•p•rwl on • g(4Tra ¢oncwn b••lB. Th• fin•nd•l •thtwn•nts do
t In￿ •ny I4￿trnIn18 th•If*￿Ad from Gomp•ny rKI b•lnll •bkn to cL*rtlnu• ftx
n•xl 12 monthi. Thff• •r• rK> m•twi•l urt•thnl*• •ts)ut tho ¢ontlM? 80 •
)InB eorK•m. Tho tru•ts•# hav• ••wMd wlwlh•r th• cO￿•M l)Ml• {•
•ppnJprknt• •nd h•￿ coni*d•r•d pomibkn •wls or coThllk>M that rn1gN •*ni￿•TrI dwbl
tl* abmy ol ltr• •ntty 10 ¢￿inUe M • golnq conc4m. Th• lJu•t••i hav• mad• Ihrn A••u8m•rt lor
• p•r*xl cl •t I••￿ on• s•w from the dats ol•pwty•l Lrf th• Iln•rYJ•l ot*•mants. Th• INsl••
conL*xl• th•r• r4 4 •xpxl•Jpn Il*t th• FWKI h•• •dw4U41• •nd unrn•trlc*d
th•1•1￿• ¢antinu•• to th• bow in Pr•￿n￿l it• flr•n¢*l tht•n•rt•.
cl FUNO AccwimNG
Th• finvKi•l •t•l•ffl•rt• mik• nl•r•nco ts T(tsl Furth. ThM• funth w• wr••lthl •NI th•rnforn
C￿ b• drv*n rnquk•d.
dl FIIIANCIAL A88Ers
Th• Chwty hal •*d •ppty I1￿ pr¢¥w* of S•ctkM 11 flMnck•l
FRS102 to •1 of h• kn•trumont•. FlnwKAd #sets w• rwrthd In wxp•nrf•
ert of fmnGl#l ¥thén ￿ Ct• brf¢M￿ poityto th• eontraclu•l ofth
FInVK￿ •Met• •J• knp•lY•d *ther• th•r• li ¢tii¢4XbM •vldBnco rewjli oltyKJ or mor•
th•nts th•t ar￿￿￿d after lThlknl r•cognkn olth•1kngnclAI aB¥rt th• ultrnaed lthui• f

Tho B•novolent Fund of tho Inltitutlon ol Paech•nl¢•l Enqineern
Accounllng Poll¢los
For th• year •nd•d 31 I>Kember 2023
Impalrm•nt ol Ilnanthl •M•ts
the thrtur• dMrAXmt•J at a mth rnt• of ¥rtw••l. Other IWllth• ¢I￿tr￿d •• fak
¥*uB Ihiough prrfl ry lots are at th.
fj INVESTMENTS
nal g•in$ afftd on arrty dlBpas* of fynd6 thrywlF¢Xrt thg
g) TANalOLE FIXED ASSEf8
Tv¥*l• Ilxed aBsats are Itthd at eo•t (4 caplalimbon limtt L• sn place of £1.CW depr￿1#{
rAcukted at rate8 InteThl•d Io t*yts dl eost 18$8 ¢81irfiAted resWud ￿lue ilwr the pe￿d cl
•81kn•￿ at th• rnknj:
Fuffllur•
33% pw •nnum OTr c4JAt
) RESOiIICE8 EXPEIIDEO
Exwdrtu￿ ￿ ac¢ourted foron an wuall balis r¢luthe al any VATth*kth c￿￿0¢ be ￿er>I•￿0.
Exp&)dtturn Is recogn15ed onc• th•r• i• *1 or conltnth oblgallon to beMlIt
to a th¥d party. a 15 prnbabl• thal a tAnsffjf 014coIMxrMc b•nth b• requtr•J in sfjthwnent
C￿ bo mwur•d r•lAbty. Grants p•yable ar• chwged th the is lo ti
ieclpinnt •xc•pt In tha￿ ca￿5 the rller h Cond1K￿•t such orants Iw recoani5￿ ai
not bmn at th• year end •re nttsd a• a cornmkrn•Trl, txrt rK>t ￿r￿•￿ # expwndlurn.
Supwl ¢c*ts arn all￿￿8d b•iwn tho ¢8tswies afeypondilure dependiThJ on trrfir N*urn.
P¥•27rf

T*￿ Benwolent Fund of the In•tltutlon of Mochanlcal Englnwrn
Accountlng Pollcles
For the year ended 31 Decembèr 2023
IMC4XE
ckn bè moMureLI •nd lik•llw(%l of re¢•ipt o InlereBt kn ￿nied for in the
L•gara•s ￿ rwn16ed al the crtsri• httwj been mrt •nltlenwnt pmbo1• l)••n
J) PosT*ETIREM￿ BENeNT5
The ¢P•rt8ble C￿PanY hBs a8K¢Ith mombor •tfjiuJ In trrt pemlon by lh•
Imtlutbn of ￿l￿nICal Erylneern provhjes benefilB b*•1 on ffftal pw•ion•blg pay. Tr•
cunpwry Is unthi lo tt8 shorn 01 undwl>ing AM•ts &abilitxg ol Khwn• fm a
L*ent and rwnable b8B* arxl thereftye, aj rnqulrnd tr4 FRS102, acctyrts for th8
Fin•nci•l A¢tr¥kns rtprnserts th• c4yts*JutK>n• the In rn¥wct d thp ￿e￿￿tIng
Iwjd. Ail otsff orn •nroW kn Ihe t1frfin￿ ben•fit xtr*mo t**h thary•J tr) th•
k) CRMCAL ACCOiTrITIIIG ÉSTIW4TES AND JUIXIEMENTS
that hm a signfftart df¢ct on Ihe amouth (ecognlsed t+ the flnon¢ial 8t•iem•rts, do any
ar.
P•p21&S3

Th• O•nwol•nl Fund ol th• In•t1￿tIon af IJ•¢hanl¢•l Engln••v•
A¢MuntSno Polcl••
Forth• yw •nd•d 31 D•e•mb•r 2023
1.010MJ4
164
2012•
J14.J11
1•7,120
200,nO
.6Si
101.101
1e432J
I>•Ai•fgrth•r•hl•lpo¥•ty
394.811
06,101
131,109
97,43
IAn
9￿. Il•m•p
T￿1
105,
12.1
1.•70
1,523
1,492
16.054
g65
3.174
1IIXh knni¥•rn*ry
513
q026
P4•2•d3Y

Th• B•n•vohnt Fund of th• In•lbJllon of Mechaniul EngSn••r•
Accountlng Polici
Foi tho y•ar •nd•d 31 D•wnb•r 2023
2022
A￿lIfee (￿￿ent yew VAT)
17.388
12242
10.915
c￿￿Once costs & inL4ur¥rK•
L•9•1 F
2.141
y••r.
Staff c08ts coThFrfv•:.
S01•rtw •NI othLY
SodAI ￿￿lIty
249.4V
23.524
24206
6,170
1,588
854
212.644
aThl payrol supyort
TrlrJro
Tax on IAMabl• beftell•
305
Th￿ v4•r £60,(x¢fJ >wr *¢
£70.(WM ts £80.otyJ
£ao.W)1 to £90,000
Th• tot•1 Ifflounts p4d ol kvrf Thn•gorrnnt in 2023: £102,497 (2tr22: £87,050) 4nd
0intrl>u￿N ofthem p•M employe•J was In 2Q23 £9280 C2022 £8.838 I.
7 TnAt•• Bmvd
8 Flx•d AB••ts. Furthw• •fid oirrt• Ewlpm•rt
2W42
At 1 J•nwi
Ai*lilons
131 D•¢•mlJw
43.052
43.052
Al 1 Janwry
Amwnl pnYld•d
At31 De￿
43,052
43.052
Not Book Wu• •131 O•c•mb•r 2023 ¥NI J1 Doc•ffthw 2022
PwJ•*rfJJ

Tho 8•rxvol•nt Fund of th• Instltutlon of Mechanlul Engineern
A¢￿￿tIng Pollcio•
For th• y•ar ended 31 lknmber 2023
2025
J P Dudin inc4ft￿ •c￿nI
M&G Ctwl FLY#J *Awnuknti?Th U
M&G Dl¥4dend Fund Unlts
FbY•lty Fund Sh•r••
C•z•nM Ch•rty Muni AM•t Incom• Untt•
Ch•rtty PrEperty F￿r￿1 Incom• Unl•
CCIA COIF Ch•ril•s In¥••lmrt Fund Irrtom• Urdl•
CCLA COIF Ftx•d IrthAMt Fund Ur*•
Tty•l
9,883.
14.071.70#
4.152.q42
3.006,506
1.86e.453
681.083
9.8rn774
12.982.120
3.956242
2.97D.$31
I.￿7.553
964.347
All In¥•th￿tI •rn lknl•d UK Mcwll&w.
202J
c•￿11
C•WtsI
M•M ¥du• * 1 J•nu•ry
32,737,M
421.9eo
1350.r
853 618
33,863,345
07
705,207
(100.{X￿}
N•t pr￿(￿•>
32,n7.Ml
C•th inb••ln*nt m•n•J•r
•t 31 D#•mb•r
33.770,588
32.788.521
at 31 Dtt•mb•r
Unmlwl lTrwstm•nl 31 O•c•mb•r
20 431151
10 Lo•n•
1•1 J•nu•ry
1,178,331
148.420
leO,883)
1.110.S4B
92,973
(27,1W)
Wflthn
C•ni•d 31at O•c•mbw
ThM• w• lrt•r••ifr•• •nd *• to th• Fund fml fv ••l•l• of ¢h•
b•n•ftdwkn In fflor• Ihn on• >•*r. Th• *nourt dpro¥ld•d ww•cur•d In 2023 £147.714
(20￿. £90.036).
11 An•ly•kn ol Chany• In C••h
C••h Ilty*
C••h at b•nk ar￿
166.848
27,099
78,489
141,749
28,751
••• ngl• 9
107.241
12 Olh•r D•lrto
du? fnyn the Imtilukn cl M•th•nlul Er4knwrn
4.270
9,879

Th• Bon•vol•nt Fund of th• Instltutlon d M•ch•nk•l Engln••r•
eounung Polkl•8
For th• y•ar •nd¢d 31 D•e•mb•r 2tr23
13 Crndll)rn
102J08
12.000
11000
117
31
3•
X121
41X¥J,(O)
26,CK41)W I.V3.9)7 (1.012,
853.•18
27.119.3
15 Flmnthl C•bMilbm•nl•
by lh• •1 114¢Pwtsl Ery"r￿ rd ro* ¢Jowd rr4mb•rn. Tr• *t•# hJH
•th•rknl v•lJ•tyM raniod •1 l Off￿bar?07$•Tr) vpJ•W kn 31 Lkkwf*er2019 by •
In*WJUpn. Pr￿gI*•j by FRS102. th• lurnllng thp M￿th0 •ftw
th• EnB(n•tyfBBnd and It itssl47rn01tt• aM•ts
•rvJ S•bilt*• • ra￿%￿111￿￿ r•awnalA• bKrd and Ihlrnlm. •% rnq￿ by
Sedon 26 of FRS 102 b•r•fi6'. for It*N A d•fjMd
til￿th>￿ s¢h•rM. ￿ • the •mwftt loth •r*l •c£•unt
r•p¢•Mnts p•y•bl•kn th• in •ttOJA¥ry wknl. Tl• 8w•vof•nt
Fund wi•rnd into an •gFemfit*therRtytr• F￿d
10th
Pw32rf35

Th• 8•n•vol•nt Fund of th• In•iitullon ol M•¢hanlcal Englnmrn
Arxounllng Pollcie•
For the year ended 31 Decembor 2023
Th• 0￿¥0￿rt l¥ c¢xwldw•d lopa88 th• t•* Pryrnph 1 Sd*dule 6 FInan￿ 2010
d t￿￿•fU•ll M￿ts the d•frfaOon ol• dwrtlalJl• tru•t for UK l•M pwpojw. kn￿rdIn¥Y. th•
eO¥ornd by P•t 10 In¢tyM Tu *£t 21W or Sectton 256 Ofthe TaX¥i￿ of C￿rg￿l0 Gth8 19V2, 10
th• •xt•rt Ih•t kncl¥b￿ or yin• are apoied •xduiroty to purywe
18 Ullkn•t• p•Trnl
In the irf th? InAtee• Ihere Ol no eoninllbig kwty.
19 R•lthl P•rty Tr•n••Gtton•
The Ber*¥olert Fwxl ol lThIl￿j1kn ol Medwl¢•l Er¥lne•rn Nthw)rfE) b •n hd•p•nd•rf
iepw•te thortty and company lrnn IMI of th• IrAlttull¢n ol M•th•nl¢* IIVathEI l*Vhllst Iheje
•Y9•*•tlorrf hwe (htinct purpovs •nd op•r•lkm•, trw• 1$ • dog• T•lthIW. Ths 19 1•1gety due both
Support and ts IPlechE fielpkq the wm• pwpl¢. Ih•y n> both th￿¢d to Ihe memiwrnhlp base of
the needB ol tli8 pOrtK￿ part of th• ￿9*￿vrIng COFrmunlty. NeI￿rt( Is gr•W tr th•
dty)8bon ￿lIac￿0n ¥n(l•rt•k•n by th* IIAach¢ ond lor rnlatsd rnrk•tlThJ Ind prorrv)kn
that 1$ provklod ty them. Qlti ￿Thl Y￿rn at lent w of th• &Jpwt N•1¥￿￿ Twitees h•• be•n 8ourr•d
troffl the IMethE wknyee tyty41. (￿ther to und*¥t￿ the algn the of th• t•)
In 2f23 41onaiioM rtcelved th• IM•thE thl•d £205.610. and r•¢Mryed •xp•ndllw• from l¥é¢hE
tatslknd £333,2TI. lea¥ing • net bolw ol (£127Me). 2ro2 *w• £218.707. f•¢h•ry
£288.￿?. •rnl net boLgnce1£70.ZQOI.
reported Nate 7.
Th•toW ¢omMtt￿ ft¥ rwl•l uJ•t• TA•r• £IO,m. •¥1 dher ¥w• £11.933 It 31 D•*2(123
{2022: rnnt•l M•ts £10.779. 0thgrMr¥ke• £11.933)
21 Comp•ry Umlt•d
Tr* rjwlty kn • thirted ty W•rnrt•e and tha• no caplw. Th• ol Trwnb•r tn I
e¥enl ol ¥41• liff¥ted to £1.
•cuxate prf*Jr￿ 0f•thbli￿ undert*k•n. £183.323 oftho 2022 tot•1 il*Yc08ts of£28S,424 hMI l*en
r&glocated to eo#ts frnm ¢lwii*bl• ¥tr411iu in lh• prfor Jwr.
Py33rf33